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Obama appoints banker to head SBA

Obama appoints banker to head SBA
On January 15, President Barack Obama nominated Maria Contreras-Sweet to lead the U.S. Small Business Administration. (White House photo)

WASHINGTON — America’s small businesses are on the front lines when it comes to creating jobs and new opportunities. They are the cornerstones of our communities, and can help lead the way as we continue to grow the economy and add jobs in the coming year, President Barack Obama noted in nominating Maria Contreras-Sweet to head the Small Business Administration.

“They’re part of the pact that America makes — the idea that if you work hard, if you take responsibility, then you can build something new,” he added. “And that’s the dream that brought generations of hardworking immigrants to our shores, and that’s the idea that drives small business owners to create new products and expand their businesses every single day.”

Contreras-Sweet knows first hand what it means to start a small business, and has a proven track record of helping other small businesses succeed, said Obama.

She’s the founder of ProAmérica Bank, the first Latino-owned business bank in California in more than 30 years. Its focus is small and medium-sized businesses in Latino neighborhoods. So not only did she start small businesses, but those have also been her customers, and she understands all too often that the lack of access to capital means a lack of opportunity, said Obama.

As Secretary of the California Business, Transportation and Housing Agency, Contreras-Sweet was the driving force behind major job creation and major public investments in infrastructure and in housing.

As a consultant, she helped companies expand into the Latino market, and she’s a champion of women-owned and family-owned businesses. As someone who moved to California from Mexico as a young girl, and whose mother worked long hours to support Maria and her five siblings, she knows firsthand the challenges that working families and recent immigrants are facing, the president explained.

“So as we work to keep our economy growing, Maria will be charged with looking for more ways to support small businesses,” President Obama said, “to help them get that good idea off the ground, to expand, to hire, to sell their products and ideas not only in our domestic markets, but also overseas.  And I’m absolutely confident that she is going to do an outstanding job as our Small Business Administrator.”

SOURCE: White House press release

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About Greg Gerber

Greg Gerber is a freelance writer and podcaster who has been writing about the RV industry since 2000. He is the former editor of RV Daily Report.

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